State Committee offers entrepreneurs 75 state objects
By Rashid Shirinov
Azerbaijan’s State Committee on Property Issues will hold another auction for privatization of state-owned enterprises on February 28, the Committee said on January 30.
The auction will include 75 objects of state property, including 20 joint stock companies, 29 small enterprises and facilities, 25 non-residential areas and an unfinished building.
The majority of small enterprises offered for privatization are located in Baku, Shaki, Mingachevir, Sumgayit, Lankaran and other regions of Azerbaijan.
The most expensive objects among the auctioned ones will be a petrol station in the Sabail district of Baku ($307,870), an atelier in the Nasimi district, and "Mardakan" restaurant in the Khazar district of the capital. The price of the latter two objects is $277,760.
The third stage of privatization in Azerbaijan started in the framework of the presidential decree dated May 19, 2016. Under the decree, the acceleration of the state property privatization process has been defined as an important direction of the economic policy.
The portal for privatization – privatization.az, launched in July 2016, reflects all necessary information about the facilities, their addresses, location, and even initial cost and aims at facilitation of the process. The website is available in two languages - Azerbaijani and English. “Why Azerbaijan is special” section available on the website explains the reasons and advantages of investing in the country.
The privatization process is designed to attract both foreign and local investors, as well as improve the business environment of Azerbaijan.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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